Jed McCaleb and Stellar Foundation

Jed McCaleb is an entrepreneur who co-founded Stellar in 2014 along with Joyce Kim. Before launching Stellar, he worked as the CTO of Ripple Company. He became reputed for creating the eDonkey2000 and bitcoin exchange applications. Early this year, he had token ownership worth $20 billion in Ripple Company. Consequently, he ranked number 40 in Forbes’ list. He joined the University of California, but he dropped out. Besides being an entrepreneur, Jed McCaleb is also philanthropic. In 2014, he contributed $500,000 to the Machine Intelligence Research Institute. Moreover, he is a donor to the artificial intelligence safety group.
Last year, Jed McCaleb launched Lightyear which will enable the Stellar network to make payments globally. Additionally, Lightyear has partnered with IBM to start a blockchain which will be using Stellar’s currency.

Michael Pearl published an article concerning an event co-hosted may this year by Jed McCaleb and Yoni. In the event, Jed McCaleb stated that Stellar enhances payment in an open protocol and they provide the efficient method. He added that their platform encourages creativity. In his argument, he wanted Stellar to reach out as many developers as possible. Concerning banking, he reported that IBM was aided them so that they could be accepted globally; but they did not want their product. Additionally, he said that they back up their tokens with real assets just as in the case of gold.

Regarding simplicity, he stated that Stellar is more comfortable to operate compared to Ethereum because it does not involve coding. Although Stellar platform allows users to do whatever they want, there are few restrictions. Generally, the user has only 90% access to the platform. According to him centralization at Stellar will better the services compared to decentralization. Finally, he stated that Stellar platform enables users to trade freely.

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